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Choosing the Right FP&A Software 
Solution for your Organization

FP&A software solutions have become a must-have for finance professionals in all industries, working in teams of all sizes. What used to be an expensive and complex software tool that only large corporations with 8 or 9 figures in revenue could afford, has transformed into an affordable, easy-to-use solution that most SMBs can afford. As more and more companies experience the benefits of software automation in their reporting cycles, the market is seeing a gradual increase in demand.  Today, there are only a dozen or so providers offering a wide range of features, add-ons, and integrations at various price points. 

In order to make the right decision when evaluating the solution that fits best for your organizational needs, we have put together a comprehensive list of pros and cons for two of the leading FP&A solutions in the industry, DataRails, and Vena. 

 

Note: All of the comparisons and reviews are from active customers of each solution- hence those that know the pros and cons of the product best. 

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Excel compatibility

Complete native Excel functionality. Internal financial models can be imported.

 

Payment method

Monthly and Annual subscriptions available

Audience

SMEs

Onboarding engagement

1-2 hours a week

Price

Est. $2k+/ month

Available in

US,UK, and Canada

Power BI

Full Excel functionality with  customized dashboard

Third Party BI Integrations

Over 30 available integrations

HR+ Labor Planning

Not available

Excel compatibility

Great Excel interface. Some users feel that the platform is quite rigid when formatting specific sets of data. Excel capabilities are somewhat limited.

Payment method

Annual  subscription

Audience

Companies of all sizes

Onboarding engagement

5-6 hours a week

Price

Est. $60k+/ year

Available in

Available in most countries

Power BI

Only available with Power BI

Third Party BI Integrations

Limited number of integrations. Integrates with the main platforms such as NetSuite, Salesforce, and others.

HR+ Labor Planning

Plans salaries, benefits, and taxes including pre-built logic for calculating unique benefits in each individual country

 
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"It’s just easier because most finance people are heavy Excel users, and it's just an easy thing. It’s what you're used to performing in, and anybody in finance will tell you that. It’s our language."

 

-CFO for a company of 700+ employees

 

"The implementation was extremely efficient as you start to build out real life business processes from the outset- which mean you get a return on investment from day 1." 

-Head of FP&A for a company of 750+ employees

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“Vena provides a quick and efficient way to share information and update templates in real-time throughout our department. Vena has made our monthly close process much faster and easier. The ability for multiple people to use a template at once is also a great benefit.”

-Head of FP&A for a company of 600+ employees

 

“When configured correctly, it is an extremely powerful tool. You have to take great care in identifying what you would like it to do for you and how you would like to scale.”

-CFO for a company of 900+ employees

Summary

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The price, flexibility, and ease of use are hard to beat. However, what most customers enjoy the most about DataRails is the fact that its compatibility with Excel is so exact that it’s as if nothing’s changed.

 

The ROI from day one, with the very limited time spent on training employees, are huge pros with this choice. 

 

Learn more about the product

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One of the most reliable FP&A software solutions founded over a decade ago, Vena’s compatibility with Excel and multitude of add-ons makes it a great choice for many financial teams.

 

Catering to a wider range of customers both in terms of company size and location serves as a big advantage as well. The downside, however, is the time it takes to implement (approx. three months).

Learn more about the product